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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #101,101
  • Aug 30, 2011 4:26pm Aug 30, 2011 4:26pm
Quoting aserbfx
very strong downbars. we need a slow down first. otherwise i will give it a pass...
only thing that confuses me about this way of thinking is that if it wasnt so strong then there would be loads of trouble areas going long, whereas now if it were to go long looks like quite a clean run, i hope you get my meaning im trying to get at here
  • #101,102
  • Aug 30, 2011 5:21pm Aug 30, 2011 5:21pm
Hi

Here is a daily BEOB on GBPNOK. I am tempted to take a cheeky trade on this one. Any thoughts anyone?

happy trading
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  • #101,103
  • Aug 30, 2011 5:27pm Aug 30, 2011 5:27pm
What's your opinion guys about this AUD/USD pair H4 TF. (Attached chart below) With the confluence of PPZ and 365 EMA.
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  • #101,104
  • Aug 30, 2011 5:29pm Aug 30, 2011 5:29pm
Quoting sh5467
Hi

Here is a daily BEOB on GBPNOK. I am tempted to take a cheeky trade on this one. Any thoughts anyone?

happy trading
Hey S

Just be careful here remember we want beobs at swing highs traditionally.

This one is going to be caught b/w a rock and a hard place. A very choppy pair trading back into previous consolidation. Would just be very cautious here. Remember to think confluence and story with these bars

Take care
Mike
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  • #101,105
  • Aug 30, 2011 5:30pm Aug 30, 2011 5:30pm
Quoting TransPorter
What's your opinion guys about this AUD/USD pair H4 TF. (Attached chart below) With the confluence of PPZ and 365 EMA.
Great confluenced area too watch TP, very nice


Best
Mike
  • #101,106
  • Aug 30, 2011 5:50pm Aug 30, 2011 5:50pm
Quoting mbqb11
Hey S

Just be careful here remember we want beobs at swing highs traditionally.

This one is going to be caught b/w a rock and a hard place. A very choppy pair trading back into previous consolidation. Would just be very cautious here. Remember to think confluence and story with these bars

Take care
Mike
Thanks for the heads up Mike. I just checked the spread and it is 41 pips! Will pass on this one but keep an eye on it to see what happens.
  • #101,107
  • Aug 30, 2011 6:27pm Aug 30, 2011 6:27pm
Quoting Walcott
Thx you very much for your explanations !
Your weekly analyze is very helpful.

About your entry, I see you choose to enter over the close of the bar before the PB, right ? Or it's about Fibs levels you drow ?

One thing I'm still wondering, where did you put your initial SL. And even as you said, the price had big chances to reach the FTA, did you had a good R/R before FTA was hit and SL put to BE ?

I've the feeling it was a babysitting trade you had to watch closely because of the nature. You bet on the power of attraction to the near and powerful...

No, I was not really thinking about RR.
Well, I was but, it was something like 6 reward 8 risk.


The entry was just a standard 10-15 pips above the bar.
Pink line is the rough initial SL.
Hope this helps.
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  • #101,108
  • Aug 30, 2011 6:27pm Aug 30, 2011 6:27pm
Quoting mbqb11
Great confluenced area too watch TP, very nice


Best
Mike
Thanks Mike. Even hurricane irene won't stop you from helping us.http://www.forexfactory.com/images/icons/icon14.gif
  • #101,109
  • Aug 30, 2011 7:42pm Aug 30, 2011 7:42pm
hey Mike, can you just do me a huge favour and post a screenshot example of a BEOB at a swing high or opposite BUOB at a swing low. Much appreciated
  • #101,110
  • Aug 30, 2011 8:24pm Aug 30, 2011 8:24pm
Quoting deankenny21
hey Mike, can you just do me a huge favour and post a screenshot example of a BEOB at a swing high or opposite BUOB at a swing low. Much appreciated
Not Mike but here's a BEOB at a swing high
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  • #101,111
  • Aug 30, 2011 9:06pm Aug 30, 2011 9:06pm
Been a long time since I posted on here. Current trade I'm in. Other than that, not a lot happening. Had a couple -0.5R losses before this one (trying to trade the yen is not fun lol), hopefully it works out


EDIT: pair in picture is USDCHF
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Many choose unhappiness over uncertainty.
  • #101,112
  • Aug 30, 2011 9:32pm Aug 30, 2011 9:32pm
Quoting Donkey
Not Mike but here's a BEOB at a swing high
thank you, im still a bit short of understanding, i been looking to the left of chart for a swing high. So basically we want our bar whether it beob or pinbar to be in clear space making its own swing?, not ncessarily matching another swing high to the left?
  • #101,113
  • Aug 30, 2011 9:42pm Aug 30, 2011 9:42pm
Quoting deankenny21
thank you, im still a bit short of understanding, i been looking to the left of chart for a swing high. So basically we want our bar whether it beob or pinbar to be in clear space making its own swing?, not ncessarily matching another swing high to the left?
Right, we want them at obvious swing points. For me the more extreme the swing and larger the bar the better. Here are 2 more BEOBs at swings...looking to the left each they are not the most extreme swings on the chart, but they are obvious swing points....I'll try to find one or 2 that are not at swing points.

Not saying any of these are tradeable, would need to build more of a story - but they are examples of BEOBs at swing highs.

Edit, what you are describing - an outside bar matching a previous swing sounds like a double top, which could give the outside bar more story/strength.
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  • #101,114
  • Aug 30, 2011 9:51pm Aug 30, 2011 9:51pm
Quoting Donkey
Right, we want them at obvious swing points. For me the more extreme the swing and larger the bar the better. Here are 2 more BEOBs at swings...looking to the left each they are not the most extreme swings on the chart, but they are obvious swing points....I'll try to find one or 2 that are not at swing points.

Not saying any of these are tradeable, would need to build more of a story - but they are examples of BEOBs at swing highs.

Edit, what you are describing - an outside bar matching a previous swing sounds like a double top, which could...

Same pair had a couple of BEOB at swing lows (at the time the bars formed), that could be tradeable - but are generally more tricky to play.....hope these help.
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  • #101,115
  • Aug 30, 2011 10:08pm Aug 30, 2011 10:08pm
Quoting deankenny21
thank you, im still a bit short of understanding, i been looking to the left of chart for a swing high. So basically we want our bar whether it beob or pinbar to be in clear space making its own swing?, not ncessarily matching another swing high to the left?
One more and I'll leave you alone.....I think this chart is what you are describing in bolded above. We have an extreme swing high to the left, and a second one that formed at basically the same level (actually 20 pips higher), basically giving us a BEOB at double top - with added confluence of divergence. The huge bar, divergence, close, Big Round Number is a great story and would make this an A+ setup in my book.
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  • #101,116
  • Aug 30, 2011 11:26pm Aug 30, 2011 11:26pm
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A chart helps those who can read it.
  • #101,117
  • Aug 31, 2011 12:45am Aug 31, 2011 12:45am
Quoting geniusztc
hey Genius,

The best part of that trade in my honest opinion was the fact that it was a touch trade off a solid resistance area. Henceforth you're in the green merely because the resistance "held".

Taking a pin bar short here would not have been a very good idea (at the first glance of your post I thought you had shorted the break of the pin bar/doji)

We're operating at the brink of consolidation box breakout. Why? Look at the last 2 bar highs on the daily that have created the resistance. Strong bounce on both right? Look at the recent one...do you see a buildup? What can we conclude about bars hitting resistance and not rebounding for good but holding up?

The 4H chops the story up into further observable parts. An extremely obvious double bottom breakout setup.

It's all about the story.

g.
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I believe . . .
  • #101,118
  • Aug 31, 2011 2:29am Aug 31, 2011 2:29am
Thank you ghous,and genius, for posts 101138/39
these are the kind of posts that I learn a heck of a lot from
mike
  • #101,119
  • Aug 31, 2011 4:07am Aug 31, 2011 4:07am
Quoting geniusztc
3 days, 3 touches... and the 2 fibos at .884-5 providing daily support.

I've closed my short. Was fun on monday, doesn't seem so anymore; maybe I'm wrong(but I think I'll have lower chance to close at be if it breaks, so...).
  • #101,120
  • Aug 31, 2011 4:09am Aug 31, 2011 4:09am
Quoting ghous
hey Genius,

The best part of that trade in my honest opinion was the fact that it was a touch trade off a solid resistance area. Henceforth you're in the green merely because the resistance "held".

Taking a pin bar short here would not have been a very good idea (at the first glance of your post I thought you had shorted the break of the pin bar/doji)

We're operating at the brink of consolidation box breakout. Why? Look at the last 2 bar highs on the daily that have created the resistance. Strong bounce on both right? Look at the recent...
i did not read your post properly..
later i realise u had a buy position..wch amazed me y wuld u buy in sch a strong resistance area..
thanks for sharing..keep posting such "before-breakout" trades ...
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